Boyd Slides To Loss In Q1

(RTTNews) - Boyd Group Services Inc. (BYDGF), an operator of non-franchised collision repair centers, on Wednesday announced loss for the first quarter, compared to profit last year.

For the first quarter, the company reported net loss of $2.64 million compared with profit of 8.38 million in the prior year.

Loss per share was $0.12 compared with earnings per share of $0.39 in the prior year.

Adjusted net earnings were $2.17 million, while it was $9.44 million in the previous year.

Adjusted earnings per share were $0.10 versus 0.44 last year.

Ten analysts, on average, had expected the company to report $0.14 per share. Analysts' estimates typically exclude special items.

Adjusted EBITDA decreased 1.4% to $80.55 million from $81.70 million in the prior year.

Sales declined 1% to $778.32 million from $786.55 million last year.

The company said it is progressing toward its five-year goal announced earlier this year to grow revenue to $5 billion and double Adjusted EBITDA to $700 million by 2029.

In the pre-market trading, Boyd is 2.35% lesser at $207.54 on the Toronto Stock Exchange.